{"id":17731,"date":"2023-02-16T20:15:21","date_gmt":"2023-02-16T20:15:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/this-bitcoin-stock-is-a-better-buy-than-coinbase\/"},"modified":"2023-02-16T20:15:21","modified_gmt":"2023-02-16T20:15:21","slug":"this-bitcoin-stock-is-a-better-buy-than-coinbase","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/this-bitcoin-stock-is-a-better-buy-than-coinbase\/","title":{"rendered":"this bitcoin stock is a better buy than Coinbase"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/128208966_m-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/128208966_m-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/128208966_m-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/128208966_m-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>D.A. Davidson analyst downgraded Coinbase stock on Thursday.<\/li>\n<li>Chris Brendler says RIOT has potential to rally a lot more.<\/li>\n<li>Both crypto stocks are currently up more than 100% for the year.<\/li>\n<\/ul>\n<p>The massive year-to-date rally in Coinbase Global Inc (NASDAQ: COIN) should be seen as an opportunity to cut your exposure to this name, says Chris Brendler. He\u2019s a Senior Equity Analyst at D.A. Davidson.<\/p>\n<h2>Brendler sees downside in COIN to $60<\/h2>\n<p>On Thursday, Brendler downgraded the crypto exchange to \u201cneutral\u201d and announced a price objective of $60 that represents about a 15% downside from here. In a research note, he said:<\/p>\n<blockquote>\n<p>FTX debacle is still reverberating. While we agree with management\u2019s view that improved clarity and a level playing field should be good, near-term path looks increasingly treacherous.<\/p>\n<\/blockquote>\n<p>The analyst particularly quoted regulatory challenges as a meaningful headwind. Last week, the SEC <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/02\/09\/us-securities-and-exchange-commission-sues-kraken-over-crypto-staking-services\/\" target=\"_blank\" rel=\"noopener\">ordered<\/a> Kraken to terminate crypto staking in the United States \u2013 which is concerning for Coinbase since it offers similar services as well.<\/p>\n<p>Coinbase is <a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/coin\/earnings\" target=\"_blank\" rel=\"noopener\">expected<\/a> to lose $2.39 a share in its current financial quarter versus $3.32 of per-share earnings a year ago.<\/p>\n<h2>Brendler sees more upside potential in RIOT<\/h2>\n<p>On the flip side, Bitcoin surpassed <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-hits-25k-in-new-2023-high\" target=\"_blank\" rel=\"noopener\">$25,000<\/a> today for the first time in more than six months that paints somewhat of a rosy picture for the crypto space at large.<\/p>\n<p>According to Brendler, though, there are better alternatives to play that strength in BTC prices than Coinbase. One such substitute that pops out to him is Riot Platforms Inc (NASDAQ: RIOT).<\/p>\n<blockquote>\n<p>You don\u2019t need to own Coinbase to play bitcoin, miners like RIOT with no debt and bitcoin on their balance sheet have potential to rally a lot more than Coinbase.<\/p>\n<\/blockquote>\n<p>Last month, the Nasdaq-listed firm said it <a href=\"https:\/\/www.globenewswire.com\/news-release\/2023\/02\/06\/2602146\/0\/en\/Riot-Announces-January-2023-Production-and-Operations-Updates.html\" target=\"_blank\" rel=\"noopener\">produced<\/a> a record 740 bitcoin in January. As of the end of January, Riot held roughly 6,978 BTC in total. For the year, Riot stock is also up more than 100% at writing.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/riot-is-better-buy-than-coinbase-stock-analyst\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) D.A. Davidson analyst downgraded Coinbase stock on Thursday. Chris Brendler says RIOT has potential to rally a lot more. Both crypto stocks are currently up more than 100% for the year. The massive year-to-date rally in Coinbase Global Inc (NASDAQ: COIN) should be [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":17732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17731"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17731"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17732"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}